The maximum amount of net earnings subject to the 12.4% social security portion of the self-employment (SE) tax for 2015 is $118,500. All net earnings of at least $400 are subject to the Medicare part of the tax.
Self-Employment Income* is income from:
- Sole proprietorship business (Schedule C)
- Farm (Schedule F)
- Certain partnership income and guaranteed payments (Schedule K-1, Form 1065)
- Church employee (lay persons) income of $108.28 or more
- Income for services performed as a minister or a member of a religious order
*See IRS Tax Topic 554 - Self-Employment Tax and Understanding Employment Taxes for detailed information.